After being in the red till three in the afternoon, Indian benchmark indices closed 0.7 per cent above their previous close on Thursday.
The Sensex was up 123 points to close at 17,830, while the Nifty closed 44 points up at 5,412.
“The markets have been extremely volatile in the last few days. After a long time, the Nifty crossed the 5,400-mark. Markets are showing a positive bias which should continue unless there are concerns globally or an uncertain domestic event,” said Mr Dharmesh Pancholi, Senior Manager- Advisory (Equity), Sharekhan.
Metal, Realty and Bankex were sectoral leaders while Oil and Gas was the worst performing sector.
Sterlite Industries (up 4.59 per cent), Jindal Steel (up 3.81 per cent) and Tata Power (up 3.38 per cent) were the top gainers on the BSE. Sun Pharma (down 1.36 per cent), Hindalco Industries (down 1.31 per cent) and DLF (down 1.15 per cent) were the top losers in the day’s trade.
European markets rose for the first time in four days to 0.3 per cent. This was because regional finance ministers prepared themselves to talk on the Greek bailout. Asian markets were marginally down.